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Workforce Initiative Subsidy for Homeownership (WISH) Program

Through participating Bank members, lower-income households, individuals, and families ready to move from renting to owning can receive a 4-to-1 matching grant of up to $22,000. WISH grants can be applied to downpayment and closing costs. Learn more.

On April 1, 2019 the Bank announced that approximately $8.9 million in WISH funds were allocated to 39 members to assist eligible first-time homebuyers. 

2019 WISH Program Results - Participating Financial Institutions
WISH Program Awards History

Homebuyer eligibility requirements and other program details are available in the program profile. WISH grants may be used in conjunction with a variety of local, state, and federal homeownership programs.

The application period for the 2019 IDEA Program is now closed. Only Bank members may submit applications for WISH Program funds. Individuals looking for homeownership assistance programs should visit the Resources for First-Time Homebuyers section of our website.

 

WISH Program Subsidy Disbursement Requirements for Members and Sponsors

  1. Member determines the household’s income eligibility and accepts homebuyer into the WISH program. Member completes and signs the WISH Program Enrollment form.
  2. Homebuyers are qualified according to their place of residence at time of enrollment. First visit FFIEC to determine the Metropolitan Statistical Area (MSA) for the homebuyer. Then visit HUD to determine the Area Median Income (AMI) limits for the particular year and MSA.
  3. Member must use the AHP Household Income Qualification Workbook to calculate total annual income for each household. The Bank requires that each AHP-assisted unit be income-qualified according to AHP Income Qualification Guidelines and that proper third party income documentation be provided according to the Acceptable Forms of Verification for Household Income Qualification.
  4. Member funds the WISH grant to homebuyer at closing. Once homebuyer closes, member submits documentation to be reimbursed by the Bank. Member submits households’ disbursement documentation after each individual household closes.
  5. Members are required to submit their reimbursement request with supporting documentation within two months from the date the home purchase transaction closes. If there is any deficiency in the documentation, members have up to four months to cure that deficiency. Use the WISH Disbursement Checklist as a guide to submitting a complete disbursement request. A disbursement request submitted by the member for each household that has received a WISH grant should include the following: 

  6. Member submits disbursement request, with complete information and documentation, via a secure portal hosted by Blackberry Workspace.

Upon receipt of disbursement request from member and satisfactory review of all required documents, the Bank will usually reimburse within 15 business days.

WISH Disbursement Webinar - watch a video recording of our most recent webinar to learn how to submit a complete disbursement package.

The member must notify the Bank at wish@fhlbsf.com if during the WISH retention period (5 years from home purchase closing) there is a sale, transfer, assignment of title or deed, refinancing, foreclosure, or deed-in-lieu of foreclosure of a WISH-assisted unit by submitting a completed Owner-Occupied Unit - Notice & Repayment Workbook.

Repayment of WISH subsidy may be required if either of the following occur during the retention period:

  • Sale, transfer, or assignment of a WISH-assisted unit to a non low- or moderate-income household (household income above 80% of area median income), or
  • Refinance of a WISH-assisted unit where the unit does not remain subject to a retention agreement (e.g. WISH promissory note and rider to deed of trust) 

To calculate and remit any required subsidy repayment follow the instructions in the Owner-Occupied Unit - Notice & Repayment Workbook.

Repayment is not required for the following:

  • Sale, transfer, or assignment of a WISH-assisted unit to a low- or moderate-income household (household income equal to or less than 80% of area median income)
  • Refinancing where a WISH-assisted unit remains subject to a retention agreement
  • Foreclosure of a WISH-assisted unit or deed-in-lieu of foreclosure
  • Assignment of a Federal Housing Administration first mortgage on a WISH-assisted unit to HUD
  • Death of the WISH-assisted homeowner
  • The pro rata subsidy calculation in the Owner-Occupied Unit - Notice & Repayment Workbook is $2,500 or less

The AHP Implementation Plan sets forth certain policies, procedures, standards, and requirements applicable to the Bank’s AHP, as required by the AHP Regulations (Title 12, Part 1291 of the Code of Federal Regulations). While the Implementation Plan includes other pertinent information pertaining to the Bank’s AHP, the plan is not intended to be a comprehensive statement of all of the Bank’s applicable policies and procedures.

Policy Updates 

October 23, 2019
Affordable Housing Program (AHP) Implementation Plan Revisions

April 1, 2019
Affordable Housing Program Implementation Plan Revisions - Early Adoption of Certain Provisions of Amended Regulation

January 10, 2019
2019 WISH and IDEA Homeownership Programs

December 14, 2018
Affordable Housing Program (AHP) Implementation Plan Revisions

November 20, 2018
FHFA Issues Final Rule Amending Affordable Housing Program Regulation

June 7, 2018
Comment Period for Proposed Rule Amending the AHP Regulation Ends June 12; FHLBanks Submit Joint Comment Letter

May 3, 2018
FHFA Extends Comment Period for Proposed Rule Amending the AHP Regulation and Corrects a Calculation Error

April 26, 2018
Affordable Housing Program (AHP) Subsidy Repayments: Calculating a Homeowner's Net Gain on Sale or Refinance

March 15, 2018
AHP Action Alert: Comment on Proposed Amendments to the AHP Regulation

January 11, 2018
2018 WISH and IDEA Homeownership Programs

January 10, 2017
2017 WISH and IDEA Homeownership Programs

January 12, 2016
2016 WISH and IDEA Homeownership Programs

January 13, 2015
2015 WISH and IDEA Homeownership Programs

January 13, 2014
2014 WISH and IDEA Homeownership Programs

December 16, 2013
Affordable Housing Program (AHP) Implementation Plan Revisions and Other Changes

November 1, 2013
Revised AHP Household Income Qualification Workbook 

January 9, 2013
WISH and IDEA Homeownership Programs

December 21, 2012
Revised AHP Implementation Plan

November 5, 2012
WISH Program Disbursement Policy Clarification: Sweat Equity as Homebuyer Contribution 

August 15, 2012
Revised AHP Implementation Plan

January 31, 2012
Revised AHP Implementation Plan 

January 10, 2012
2012 WISH and IDEA Homeownership Programs

December 21, 2011
Revised AHP Implementation Plan 

October 3, 2011
Revised AHP Implementation Plan: Change Related to Resubmitted Projects

August 8, 2011
Revised Affordable Housing Program Implementation Plan 

May 17, 2011
Revised AHP Sample Retention Documents and Direct Subsidy Agreements

April 5, 2011
Revised AHP Implementation Plan: Change Affecting the Competitive Program 

January 6, 2011
2011 WISH and IDEA Homeownership Programs

January 4, 2011
AHP Retention Documents – Sample Documents Available Online 

December 22, 2010
Revised AHP Implementation Plan

November 9, 2010
WISH and IDEA Programs: New Disbursement Request Deadlines  

August 16, 2010
Revised Affordable Housing Program Implementation Plan

April 1, 2010
Revised Affordable Housing Program Implementation Plan 

February 11, 2010
Revised Affordable Housing Program Implementation Plan

February 5, 2010
New Affordable Housing Advisory Council Members Appointed

January 13, 2010
2010 WISH and IDEA Homeownership Programs

November 25, 2009
WISH and IDEA Programs Disbursement Policy: Consumer Debt Payoffs

October 28, 2009
The Bank's First-Time Homebuyer Grants and FHA Streamlined 203(k) Rehab Program 

October 8, 2009
Revised Affordable Housing Program Implementation Plan

August 25, 2009
Revised Affordable Housing Program Implementation Plan  

February 10, 2009
Revised Affordable Housing Program Implementation Plan

January 13, 2009
2009 Homeownership Programs 

December 22, 2008
Revised Affordable Housing Program Implementation Plan

August 29, 2008
Revised Affordable Housing Program Implementation Plan

August 31, 2007
Changes to Income Qualification Guidelines and New Workbook 

The Bank now accepts documents electronically, using a secure portal hosted by Blackberry Workspace.
All forms and documents related to the WISH Program are available here.

Application Materials

WISH Program Application Materials (Sample) - coming soon

Disbursement

WISH Disbursement Checklist
WISH Program Enrollment
WISH Program Certification and Disbursement Request
Certification and Disbursement Request – Attachment 1
AHP Household Income Qualification Workbook
Promissory Note
Rider to Deed of Trust  

Notice and Repayment

Owner-Occupied Unit - Notice & Repayment Workbook

Policy Updates and Regulations

AHP Implementation Plan
Targeted Community Lending Plan

Other Documents

AHP and FHA Financing
Homeownership Set-Aside Programs Secure Portal Workspace Set-up Request
Homeownership Set-Aside Programs Portal User Agreement

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